Hey elite Californians & New Yorkers huffing about end of state & local tax deduction: those other tax breaks for the rich are for u too.
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I don't get this. The "huffing" isn't about the elite rich, it's about the middle and working class of these highly populous states.
Hardly any truly middle class people itemize so they don't take the state and local deduction.
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So users of TurboTax and H&R block, for example, aren't recommended to take this deduction?
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not true here in the Bay Area - because housing is expensive. lots of mid-class families carry 600k mort. plus huge property/state tax
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in CA, not unusual 2run up 55k in deductions. 23k mort int,10k prop. tax, 15k state tax.Lots of prop. tax ad ons,like sanitary districts etc
End of conversation
New conversation -
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R U snarking? Just did quick calc of 2013 return-if no prop tax deduct(CT) I'd have paid $4,555 more. I don't have $4,500 to spare. Screwed.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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According to
@jonathanweisman you must not qualify as truly middle class.Thanks. Twitter will use this to make your timeline better. UndoUndo
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